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serg [7]
2 years ago
14

The accounts in the ledger of Seaside Furniture Company as of August 20Y5 are listed in alphabetical order as follows. All accou

nts have normal balances. The balance of the cash account has been intentionally omitted.
Accounts Payable $118,600
Accounts Receivable 660,500
Cash ?
Common Stock 150,000
Dividends 36,000
Fees Earned 4,330,000
Insurance Expense 18,000
Land 1,850,000
Miscellaneous Expense 30,200
Notes Payable 75,000
Prepaid Insurance 21,600
Rent Expense 390,000
Retained Earnings 1,814,400
Supplies 11,200
Supplies Expense 23,700
Unearned Rent 12,000
Utilities Expense 82,000
Wages Expense 2,950,000

Required:
Prepare an unadjusted trial balance.
Business
1 answer:
musickatia [10]2 years ago
8 0

Answer:

Cash $426,800.00

Debit side $6,500,000.00

Credit side $6,500,000.00

Explanation:

Preparation of the Unadjusted trial balance

SEASIDE Unadjusted Trial Balance

DEBIT SIDE

Cash 426,800.00

Accounts Receivable 660,500.00

Prepaid Insurance 21,600.00

Supplies 11,200.00

Land 1,850,000.00

Dividends 36,000.00

Wages Expense 2,950,000.00

Utilities Expense 82,000.00

Rent Expense 390,000.00

Supplies Expense 23,700.00

Insurance Expense 18,000.00

Miscellaneous Expense 30,200.00

TOTAL $6,500,000.00

CREDIT SIDE

Notes Payable 75,000.00

Accounts Payable 118,600.00

Unearned rent 12,000.00

Common stock 150,000.00

Retained Earnings 1,814,400.00

Fees Earned 4,330,000.00

TOTAL $6,500,000.00

CASH will be the balancing figure since the total of both Debit and Credit columns of trial balance must equal.

Therefore the Unadjusted trial balance be:

Debit side $6,500,000.00

Credit side $6,500,000.00

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A revenue account is increased by debits. is decreased by credits. has a normal balance of a debit. is increased by credits.
Elenna [48]

Answer: is increased by credits

Explanation:

Revenue accounts are increased by credits because they are an equity account and equity accounts increase by credit. This is because the corresponding entry would be an asset such as cash and as the asset has to increase by being debited, revenue must be increased by credit.

Other accounts that are increased by credit include liabilities. Accounts that increase by debits apart from assets include purchases and expenses.

5 0
2 years ago
Required: Journal entry
lisabon 2012 [21]

Answer:

If a cheque was being issued to settle a account payable, the relevant entry is to debit the accounts payable account to show that the debt is being reduced. You will then credit the cash account to show that cash is being reduced as well because it was used to pay off the debt.

Date                    Account Title                                           Debit               Credit

XX-XX-XXXX     Accounts Payable - Saurya Stores     Rs. 39,000

                           Cash                                                                            Rs. 39,000

7 0
3 years ago
Analyze various methods of conducting Internet research.
almond37 [142]

An effective Boolean search strategy that Magda should adopt is the use of Boolean operators and emboldened keywords.

<h3>What is an Internet research?</h3>

An Internet research can be defined as a reearch methodology that involves the use of information that obtained from the World Wide Web (WWW) to investigate, analyze and reach a logical conclusion on a subject matter (topic).

<h3>The various methods of conducting Internet research.</h3>

Generally, there are different methods used by researchers to conduct an Internet research and these include:

  • Cyber-ethnography.
  • Social network analysis.
  • Online content analysis.
  • Web-based experiments.
  • Online interviews.
  • Online questionnaires.
  • Online qualitative research.

In conclusion, an effective Boolean search strategy that Magda should adopt is the use of Boolean operators such as "Or" and "AND" so as to broaden the search results about flu.

Read more on research report here: brainly.com/question/26177190

#SPJ1

8 0
2 years ago
Analysts estimate that a bond has a 40 percent probability of being priced at $950 and a 60 percent probability of being priced
AnnZ [28]

Answer:

Explanation:

40% probability that bond will be priced at $950

60% probability that bond will be priced at $1050

Expected value of the bond in one year:

(Probability*Price of bond) + (Probability * Callable price bond)= (0.4*$950)+(0.60*$1010)=$986

So, expected value is $986

8 0
3 years ago
Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Heap Company manufactures a product that passes through tw
liubo4ka [24]

Answer:

<u>Physical flow schedule</u>

Inputs

Beginning Work in Process                86,300

Add Units Started                              105,900

Total                                                    192,200

Outputs

Units Completed and Transferred   172,900

Units in Ending Work in Process       19,300

Total                                                    192,200

Explanation:

A physical flow schedule is simply a schedule of units introduced into the process and units outputs without expressing them to equivalent units.

Units Introduced must always be equal to units outputs in physicals terms.

<em>Units Completed and Transferred = Beginning Inventory + Units Started - Units in Ending Work in Process</em>

                                                        = 86,300 + 105,900 - 19,300

                                                        = 172,900

6 0
2 years ago
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